Netflix (NASDAQ:NFLX) Stock Price Down 0.4%

Netflix, Inc. (NASDAQ:NFLX)’s share price was down 0.4% during trading on Wednesday . The company traded as low as $612.20 and last traded at $615.23. Approximately 948,474 shares were traded during trading, a decline of 77% from the average daily volume of 4,207,897 shares. The stock had previously closed at $617.52.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NFLX shares. Oppenheimer upped their price objective on Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research report on Monday, March 11th. Robert W. Baird boosted their price target on Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Redburn Atlantic upped their price objective on Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upped their price objective on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $628.76.

Netflix Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm has a market cap of $245.98 billion, a P/E ratio of 50.84, a PEG ratio of 1.65 and a beta of 1.22. The firm has a 50-day simple moving average of $605.77 and a 200-day simple moving average of $511.86.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 EPS. As a group, analysts forecast that Netflix, Inc. will post 17.05 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 47,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the sale, the director now owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory K. Peters sold 13,655 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 47,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the transaction, the director now owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock worth $17,741,211,000 after acquiring an additional 178,286 shares during the last quarter. State Street Corp grew its position in shares of Netflix by 0.4% during the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after acquiring an additional 62,507 shares during the period. Capital World Investors grew its position in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the period. Morgan Stanley grew its position in shares of Netflix by 11.1% during the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock valued at $1,906,005,000 after acquiring an additional 644,162 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.